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COMMENT
REITs have had a rough time. REITs will always be sensitive to rising interest rates. The only one he owns is CAR-U, the largest in Canada, incredibly well run, a solid income play. If rates keep going up, the sector will see volatility, because people buy REITs for income.
Unknown
HOLD
This is the only one he owns, the largest in Canada, incredibly well run, a solid income play. If rates keep going up, the sector will see volatility, because people buy REITs for income.
investment companies / funds
HOLD
Purest retail play, now one of the top 10 US banks. Snowbirds have an easy time moving money to and from the US via TD. Consistent, extremely well run, best in class, solid dividend growth. Recent US acquisition makes it more sensitive to the USD, so if the USD declines, TD will be hit more than the other Canadian banks.
banks
DON'T BUY
Penalty box from regulators. Better places to be. Struggling, margins and earnings are down, losing key personnel.
banks
COMMENT
Portfolio construction with bonds and equities. If safety of capital is your concern, then you need to have some lower yielding bonds as well as the high yield ones. This will protect your capital if the market takes a tumble. For the dividend portion, you want to own Canada's and the world's best businesses that have a track record of earnings growth and dividend growth. This is better than going just for the highest yield, as the company may not be able to grow that dividend or it's borrowing money to pay it.
Unknown
BUY
Largest wealth manager in the US. Wealth management is doing very well. Great long-term business to be in. Executed extremely well for years. Expects great dividend growth. Attractive at these levels. A long-time holding of his.
investment companies / funds
DON'T BUY
Simpler portfolio with better growth if you own the individual stocks, where you get both the dividend and capital appreciation. With this one, you're playing dividend vs. capital appreciation.
investment companies / funds